1, subscribed by investors
On the day of subscription (T+0), the investor will pay the subscription fee in full through the securities business department connected with the SSE within the subscription time according to the issue price and subscription quantity specified in the issuer's issuance announcement, and make the subscription entrustment. Note: You can submit the entrustment from 9: 00 am to 3: 00 pm on weekdays.
2. Freeze funds
On the first day after the subscription date (T+ 1), China Clearing Company will freeze the subscription funds in the subscription account of the designated clearing bank.
3. Capital verification and numbering
On the second day after the subscription date (T+2), China Securities Depository and Clearing Shanghai Branch will cooperate with the lead underwriter and the qualified accounting firm designated by SSE to verify the subscription funds, and the accounting firm will issue a capital verification report, and the actual funds will be used as a valid subscription. The issuer shall pay the capital verification fee to the accounting firm responsible for capital verification of subscription funds. After that, the computer system will automatically serial number each 1000 shares with a subscription number, and pass the subscription number to all brokers after the market closes that day, and then announce the winning rate (winning rate = stock circulation/useful subscription amount *100%);
4. Lucky draw
On the third day (T+3) after the subscription date, investors can check the subscription number at the brokerage office. On that day, the lead underwriter will organize a lottery.
5. Lottery processing and fund unfreezing
China Securities Depository and Clearing Shanghai Branch will draw lots for clearing the subscription of new shares according to the lottery results, and send the lottery data to the securities companies participating in the subscription after the market closes on the same day, and the brokers will return the unsuccessful subscription funds to investors according to the data.
On T+3, the buyer can check whether the lottery won or not in the securities account. If you win the lottery, you will see the winning share and quantity in your position. If there is no lottery, the frozen subscription share in this position will disappear. Investors who fail to subscribe for money can use it on T+4.
There are some precautions for subscription of new shares:
1. Cancellation of orders
Stock trading can be cancelled as long as it is not completed after the entrustment, but the entrustment to purchase new shares cannot be cancelled.
Step 2 Buy opportunities
Each account can only subscribe for a single new share 1 time, and cannot subscribe repeatedly. Each new share has a "subscription ceiling", including a quantity ceiling and a capital ceiling.
For example, if you have 500,000 yuan of new shares, you can only subscribe for 1 share on the same day, and the subscription limit is 300,000 yuan, then if you only use one account, you can only subscribe for 1 time, and the extra 200,000 yuan can only be arranged separately.